The Bull Case For Great-West Lifeco (TSX:GWO) Could Change Following Record Earnings And A 10% Dividend Hike

The article highlights Great-West Lifeco's strong full-year 2025 results, including a net income of C$4,120 million, a 10% dividend increase, and significant share repurchases. The bull case rests on steady earnings, strong U.S. and Canadian retirement businesses, and consistent capital returns. However, risks include fee pressure in retirement products and execution risk on technology investments. The article suggests that the company's appeal is closely tied to its cash returns to shareholders. It also mentions that the company's narrative projects revenue of C$41.6 billion and earnings of C$4.3 billion by 2028.